If you listen and watch conservative media - you'll see that the latest talking point is that "Obama's doubled the national debt during this presidency" They repeat it over and over again. It renders liberals speechless. Here's the proper response:

For starters, it's not true. The day Obama took office the debt was 10.626 trillion. It's now at 18.150 trillion. And while he has added 70.2% - it's not double. And it get's better. How much money has the federal gov't spent since he bacame president on ALL expenses related to the illegal and unfortunate decision to invade Iraq. I don't know the answer to this - but I would guess it's in the 1.5 - 2 trillion range. Subtract that from the 18.150 and you have one of the best stewardship's of the budget since Jimmy Carter.

Here's the best arguement. When a conserveative brings up the doubling of the debt - ask them if by doubling the debt would that automactically make them a terrible president. They'll say it does. And they'll say it with passion because they think that Obama is the only modern president to double the debt (even though this is complete lie). Then hit them with this. The day Ronald Reagan was sworn in - the national debt was 934 billion. The day he left office the debt was 2. 697 trillion. Almost TRIPLE. Bush 41 added over 80% and Bush 43 added 110%.

And speaking of Reagan - point out that when you blow up the federal budget by dramatically increasing defence spending and dramatically lowering taxes to the rich - you get the largest increase in deficit spending in the past 70 years. Does this sound familiar? Every republican now running for president wants to do the same.

Comments

Legend 1 year 48 weeks ago
#1

Bring up the fact that the budget originates in the Republican controlled House.

hollygolightly's picture
hollygolightly 1 year 48 weeks ago
#2

Maybe this will help sort things out.

"Fulfilling a top campaign pledge, Republicans on Tuesday gave final approval to the first budget from Congress in more than five years."

http://www.latimes.com/nation/politics/politicsnow/la-pn-republican-budget-20150505-story.html

Legend 1 year 48 weeks ago
#3

The Republican Mantra, cut taxes, increase spending and the 1% will get wealthier.

douglaslee's picture
douglaslee 1 year 34 weeks ago
#4

Reagan tripled the national debt and W doubled it again. Obama inherited the 11 trillion +/- debt and the mandatory interest owed due to the GOP borrowing and spending but not taxing. The interest bill was 5 trillion 600 million.

Obama's debt was 18 trillion after he paid interest on the tax cuts Reagan and W borrowed of which he had to pay 5.6 trillion because of other presidents and irresponsible congressmen.

http://useconomy.about.com/od/usdebtanddeficit/p/US-Debt-by-President.htm

The national debt was highest under Truman from WW2 expense and Korean war expense. Nixon hit the lowest debt as a % of GDP. Then Carter hit the all time lowest record of 32.5% all the while creating more jobs in his 1 term than Reagan created in either of his two terms. Reagan also tripled the national debt: http://useconomy.about.com/od/usdebtanddeficit/p/US-Debt-by-President.htm

douglaslee's picture
douglaslee 1 year 34 weeks ago
#5

cont'd

Amount Added to the Debt for Each Fiscal Year Since 1960:

Barack Obama: Added $6.167 trillion, a 53% increase in the $11.657 trillion debt level due to President Bush at the end of his last budget, FY 2009.

  • FY 2014 - $1.086 trillion.
  • FY 2013 - $672 billion.
  • FY 2012 - $1.276 trillion.
  • FY 2011 - $1.229 trillion.
  • FY 2010 - $1.652 trillion.
  • FY 2009 - $253 billion. (Congress passed the Economic Stimulus Act, which spent $253 billion in FY 2009. This rare occurrence should be added to President Obama's contribution to the debt.)

George W. Bush: Added $5.849 trillion, a 101% increase to the $5.8 trillion debt level at the end of Clinton's last budget, FY 2001.

  • FY 2009 - $1.632 trillion. (Bush's deficit without the impact of the Economic Stimulus Act).
  • FY 2008 - $1.017 trillion.
  • FY 2007 - $501 billion.
  • FY 2006 - $574 billion.
  • FY 2005 - $554 billion.
  • FY 2004 - $596 billion.
  • FY 2003 - $555 billion.
  • FY 2002 - $421 billion.

Bill Clinton: Added $1.396 trillion, a 32% increase in the $4.4 trillion debt level at the end of Bush's last budget, FY 1993.

  • FY 2001 - $133 billion.
  • FY 2000 - $18 billion.
  • FY 1999 - $130 billion.
  • FY 1998 - $113 billion.
  • FY 1997 - $188 billion.
  • FY 1996 - $251 billion.
  • FY 1995 - $281 billion.
  • FY 1994 - $281 billion.

George H.W. Bush: Added $1.554 trillion, a 54% increase in the $2.8 trillion debt level at the end of Reagan's last budget, FY 1989.

  • FY 1993 - $347 billion.
  • FY 1992 - $399 billion.
  • FY 1991 - $432 billion.
  • FY 1990 - $376 billion.

Ronald Reagan: Added $1.86 trillion, 186% increase in the $998 billion debt level at the end of Carter's last budget, FY 1981. See Did Reaganomics Work?

  • FY 1989 - $255 billion.
  • FY 1988 - $252 billion.
  • FY 1987 - $225 billion.
  • FY 1986 - $297 billion.
  • FY 1985 - $256 billion.
  • FY 1984 - $195 billion.
  • FY 1983 - $235 billion.
  • FY 1982 - $144 billion.

Jimmy Carter: Added $299 billion, a 43% increase in the $699 billion debt level at the end of Ford's last budget, FY 1977.

  • FY 1981 - $90 billion.
  • FY 1980 - $81 billion.
  • FY 1979 - $55 billion.
  • FY 1978 - $73 billion.

Gerald Ford: Added $224 billion, a 47% increase in the $475 billion debt level at the end of Nixon's last budget, FY 1974.

  • FY 1977 - $78 billion.
  • FY 1976 - $87 billion.
  • FY 1975 - $58 billion.

Richard Nixon: Added $121 billion, a 34% increase in the $354 billion debt level at the end of LBJ's last budget, FY 1969.

  • FY 1974 - $17 billion.
  • FY 1973 - $31 billion.
  • FY 1972 - $29 billion.
  • FY 1971 - $27 billion.
  • FY 1970 - $17 billion.

Lyndon B. Johnson: Added $42 billion, a 13% increase in the $312 billion debt level at the end of JFK's last budget, FY 1964.

  • FY 1969 - $6 billion.
  • FY 1968 - $21 billion.
  • FY 1967 - $6 billion.
  • FY 1966 - $3 billion.
  • FY 1965 - $6 billion.

John F. Kennedy: Added $23 billion, a 8% increase in the $289 billion debt level at the end of Eisenhower's last budget, FY1961.

  • FY 1964 - $6 billion.
  • FY 1963 - $7 billion.
  • FY 1962 - $10 billion.

Dwight Eisenhower: Added $23 billion, a 9% increase in the $266 billion debt level at the end of Truman's last budget, FY 1953.

  • FY 1961 - $3 billion.
  • FY 1960 - $2 billion.
  • FY 1959 - $8 billion.
  • FY 1958 - $6 billion.
  • FY 1957 - $2 billion surplus.
  • FY 1956 - $2 billion surplus.
  • FY 1955 - $3 billion.
  • FY 1954 - $5 billion.

Harry Truman: Added $7 billion, a 3% increase over FDR's debt level of $259 billion at the end of FY 1945.

  • FY 1953 - $7 billion.
  • FY 1952 - $4 billion.
  • FY 1951 - $2 billion surplus.
Instant-RunOff-... 1 year 34 weeks ago
#6

What is really crazy about this is the government could have created all that money debt-free, no interest payments. The government of course never pays down the debt, they just continue paying interest - to private banks that we allow to create that money out of thin air. The greatest case of welfare in the history of human civilization. Of course paying down the debt would be crazy under our idiotic privately owned, privately controlled debt money system, because that would collapse the money supply, and result in a massive depression. No debt = no money.

Even the People's Bank of China can effectively create $US, something the US gov't can't. All the publicly owned People's Bank of China does is make interest free loans to private export driven companies, i.e. Big Solar PV manufacturers get $billion zero interest loans in rembinis, with the understanding that those loans need never be repaid. This is money created out of thin air by the public bank. Then the giant Solar PV plant sells solar PV panels to the USA and receives $US as payment which are deposited in their account with the public bank. Woo-eee free petro-dollars from the USA, which they can then use to buy oil.

So effectively China is printing $US, whereas the US gov't ain't allowed to do that. Except for coins, the US mint can make coins without turning them over to private banks. So in reality the US govt could quit borrowing and mint a $trillion in platinum coins and use that to replace borrowed money.

97% owned - Economic Truth Documentary:

https://www.youtube.com/watch?v=XcGh1Dex4Yo

zapdam's picture
zapdam 1 year 34 weeks ago
#7

Almost 4 trillion dollars of debt was added from George W Bush's two wars , when Obama took over, because Bush had refused to add the war debt, claiming Iraq oil repayment would make the debt revenue nuetral, of course a total LIE. Then since the two wars didn't end in 2008 when America threw out its war criminal regime , the bills for that war kept coming in.

Accountant's picture
Accountant 1 year 12 weeks ago
#8

WOW! Bush added only $ 5.6T with two full fledged wars going and Obama will have added over $10T (almost twice as much) when he leaves office. Is the country better off? No. Cops are being assassinated and protesting/rioting, and terrorist attacks are the new normal.

And be careful not to say "Radical Islam". That might offend a Muslim jihadist.

Upgrayedd's picture
Upgrayedd 1 year 12 weeks ago
#9

Please see the first comment.

iluvgnas's picture
iluvgnas 1 year 3 days ago
#10

do you have alink so i could read more about this by chance?

iluvgnas's picture
iluvgnas 1 year 3 days ago
#11
Quote zapdam:

Almost 4 trillion dollars of debt was added from George W Bush's two wars , when Obama took over, because Bush had refused to add the war debt, claiming Iraq oil repayment would make the debt revenue nuetral, of course a total LIE. Then since the two wars didn't end in 2008 when America threw out its war criminal regime , the bills for that war kept coming in.

do you have a link id like to read more about this?

Upgrayedd's picture
Upgrayedd 1 year 3 days ago
#12

http://treasurydirect.gov/NP/debt/search?startMonth=01&startDay=20&start...

That site says Debt was $5.728T on 1/20/2001 and $10.627T on 1/20/2009, or $4.9T increase.

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The America I Knew Has Almost Disappeared

Like an alcoholic family that won't discuss alcoholism (and proving Don Quixote's warning to never mention rope in the home of a man who's been hanged), far too many Americans are unwilling to acknowledge or even discuss the ongoing collapse of democracy in the United States.